The timing is interesting: Reddit has had a terrific run the past
few months, as the industry-leading Digg has
been absolutely hammered by both the press and its own users.
After struggling in Digg's shadow for years, Reddit is enjoying
its best growth and most positive press coverage in recent
memory.

But,
as CNET's Caroline McCarthy points out, that hasn't helped
the relationship between Reddit and its parent company, Conde
Nast, which acquired the news aggregator in 2006. Despite its
recent success, the service has been hitting up its users for
donations to stay afloat.

While Slowe insists that he is leaving "on a high note," it's
difficult to believe he'd want to jump ship at a time like this
if he were happy with Reddit's ownership. As it is, he'll be
rejoining Reddit cofounder Steve Huffman at Hipmunk, another
highly touted Y-Combinator startup. We expect Conde Nast won't
acquire this one.